NOT LISTED FOR SALE
4 Beds
4 Baths
2,142 Sq Ft
5,423 Sq Ft Lot

Last Sold November 15, 2021

Last sale price $1,300,000 $607 Per Sq Ft

6 Days on Market

Highlights

  • Bay View
  • Deck
  • Storage Room
  • Monterey High School Rated A
  • Laundry Room
  • Floor Furnace

About This Home

As of November 2021

IN THE COVETED NEIGHBORHOOD OF OLD MONTEREY, on Larkin Street, you'll find this solid multi-unit investment property with a charming older house and two bay view apartments above the three-car garage that has been in the same family for over 75 years. With its location to historic downtown Monterey and Old Fishermans Wharf, this is one of the best places to live and best rental areas on the Monterey Peninsula. Currently rents are below fair market.

Last Agent to Sell the Property

Judy Tollner

Carmel Realty Company License #70017496 Listed on: 09/15/2021

Last Buyer's Agent

Patrick Stafford

Baird Partnership, Inc. License #01857243

Property Details

Home Type

  • Multi-Family

Year Built

  • 1929

Lot Details

  • 5,423 Sq Ft Lot
  • Grass Covered Lot
  • Back Yard

Parking

  • 3 Car Garage
  • On-Street Parking
  • Assigned Parking

Property Views

  • Bay
  • Downtown

Home Design

  • Quadruplex
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,142 Sq Ft Home
  • 1-Story Property
  • Storage Room
  • Crawl Space

Flooring

  • Carpet
  • Laminate
  • Vinyl

Laundry

  • Laundry Room
  • Washer and Dryer

Outdoor Features

  • Deck

Utilities

  • Floor Furnace
  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $63,000

Community Details

Building Details

  • 4 Leased Units
  • Gardener Expense $1,484
  • Insurance Expense $2,924
  • Maintenance Expense $3,421
  • Other Expense $856
  • Utility Expense $3,738
  • Operating Expense $26,723
  • Gross Income $63,000

Additional Features

  • 2,142 Sq Ft Building
  • Coin Laundry

Property Details

Home Type

Multi-Family

Year Built

1929

Lot Details

0

Parking

3

Listing Details

  • Zoning: Multi Family Dwelling
  • Subclass: Fourplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2142
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1929

Interior Features

  • Living Sq Ft: 2142
  • Stories: 1
  • Laundry: Coin Operated, Washer / Dryer
  • Flooring: Carpet, Laminate, Vinyl / Linoleum
  • Additional Rooms: Laundry Room, Storage

Exterior Features

  • Foundation: Concrete Perimeter, Crawl Space
  • Roof: Composition
  • View: Bay, City Lights, Downtown
  • Yard/Grounds: Back Yard, Deck, Low Maintenance

Garage/Parking

  • Garage Spaces: 3
  • Garage Parking Features: Assigned Spaces, On Street

Utilities

  • Heating System: Floor Furnace, Wall Furnace
  • Sewer/Septic System: Sewer - Public, Sewer Connected

Lot Info

  • Lot Acres: 0.1245
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5424.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5424.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 20.63
  • Number Of Leased: 4

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Natural Gas, Public Utilities
  • Expense Insurance: 2924
  • Expense Landscape: 1484
  • Expense Maintenance: 3421
  • Expenses Other: 856
  • Expenses Total: 26723
  • Expenses Utility: 3738
  • Income Annual Gross: 63000.00
  • Income Annual Rental: 63000
  • Income Gross Scheduled: 63000
  • Income Includes: Coin Operated Equip, Parking, Rents, Storage Area
  • Meters: Master Electric, Master Water, Separate Electric, Separate Gas, Separate Water
  • Number Of Buildings: 2
  • Operating Expenses Include: Insurance, Maintenance, Maintenance - Repair, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities, Utilities - Electric, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Hot Water, Utilities - Water

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/15/2021 11/15/21 Sold $1,300,000 0.0% $607 / Sq Ft
09/22/2021 09/22/21 Pending -- -- --
09/15/2021 09/15/21 For Sale $1,300,000 -- $607 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $15,052 $1,389,256 $704,828 $684,428
2024 $15,052 $1,362,016 $691,008 $671,008
2023 $14,506 $1,326,000 $663,000 $663,000
2022 $14,306 $1,300,000 $650,000 $650,000
2021 $1,417 $1,300,000 $650,000 $650,000
2020 $1,369 $112,439 $36,373 $76,066
2019 $1,424 $110,235 $35,660 $74,575
2018 $1,375 $108,074 $34,961 $73,113
2017 $1,284 $105,956 $34,276 $71,680
2016 $1,263 $103,879 $33,604 $70,275
2015 $1,247 $102,320 $33,100 $69,220
2014 $1,229 $100,317 $32,452 $67,865
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLSListings

MLS Number: ML81862826

MLSListings

APN: 001-381-017